18Composition of Board in transitional period

18 Composition of Board in transitional period

On and from the day on which this section commences until the day on which the Retirement Benefits Act 1993 is repealed –

(a) the chairperson of the Commission is to be taken to be a member of the Board but sections 9 and 9A of that Act, and Schedule 1 to that Act, do not apply in relation to the chairperson as a member of the Board; and

(b) the Board is to be taken to consist of the following members:

(i) subject to paragraph (c) , the 7 members of whom the Board consists under section 8 of that Act;

(ii) the chairperson of the Commission; and

(c) the Minister, by notice to the Board, may determine that any vacancy in the Board is not required to be filled and, if such a determination is made, the number of members of the Board referred to in paragraph (b)(i) is reduced accordingly; and

(d) the Minister may, by notice to a member of the Board, extend the term of the member's appointment to the Board and, if such a notice is issued in relation to a member, Schedule 1 to the Retirement Benefits Regulations 2005 does not apply in relation to the member; and

(e) this section applies despite any inconsistency with a provision of the Retirement Benefits Act 1993 or the Retirement Benefits Regulations 2005.